admiral bay and the strategic alliance

Morning folks
Like you I've been trying to get as much time as possible this last day to think thru the funding and look at the implications. Now I understand from earlier releases that Admiral Bay can't go beyond inferred resource level without sinking a shaft, right? And sinking the shaft, I've heard, might be around $200m. If true then we can't get excited by the claim in the ann of 10 June that the new funding arrangements will allow going in any significant way to a PFS or that the ann is convincing when it says it will allow the 'advancement' of AB.
In summary, the company may have been more straight forward on AB - agreed?
HK